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The Biden tax increase makes no sense. Preliminary headline productivity improves. Biggest midday movers: Uber, Etsy, Moderna. Chinese oil imports dropped 11% in April. Here is the current market situation from CNN Money North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively. What Is Moving the Markets Here are the headlines moving the markets. Oil Rally Stalls As India s COVID Crisis Worsens Oil prices dropped on Thursday morning, cutting short the rally to $70 a barrel after the worlds third-largest oil importer, India, reported a fresh record of new daily coronavirus cases. As of 11:17 a.m. EDT on Thursday, WTI Crude was down 0.96 percent at $64.99 and Brent Crude was trading down 0.86 percent at $68.37. Brent prices were a hairs breadth from reaching $70 a barrel on Wednesday, as the market was focused on the reopenings in the United State

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